MUSTANGO FALLS
ActiveMUSTANGO FALLS has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €365k and a net result of €6k. Equity is growing by ~39.6% per year across the filed fiscal years. Its solvency ranks better than 73% of 709 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
74
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability30▼-70
Solvency93▲+8
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 12.23 against 6.7 in 2024; short-term debt: 7.9% and cash: 43.1% of total assets), and 31.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
68.3%
Return on assets
1.1%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-02-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
28 d late
2022
31 d late
2021
23 d late
2020
on the day
2019
26 d late
2018
5 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close23-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€6k▼ 97.4%
2024 · €213k
2018: €29k
2019: €17k
2020: €31k
2021: €67k
2022: €74k
2024: €213k
2018 → 2025
Working capital
€471k▼ 6.9%
2024 · €506k
2018: €133k
2019: €144k
2020: €173k
2021: €172k
2022: €193k
2024: €506k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220242025Trend
Equity€66k-€118k▲ 77.8%€177k▲ 49.9%€364k▲ 106%€365k▲ 0.2%
Operating result€44k-€90k▲ 105%€100k▲ 11.6%€59k▼ 41.4%€4k▼ 92.9%
Net result€31k-€67k▲ 118%€74k▲ 10.8%€213k▲ 189%€6k▼ 97.4%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 93% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €534k
Fixed assets
€21k▲ 144%
Current assets
€513k▼ 13.8%
Equity and liabilities €534k
Equity
€365k▲ 0.2%
Debt
€169k▼ 29.2%
The debt ratio falls from 39.6% to 31.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€7k▼
2024 · €146k
Cash flow
€9k▼
2024 · €300k
Solvency
68.3%▲
2024 · 60.4%
Current ratio
12.23▲
2024 · 6.70
Quick ratio
12.23▲
2024 · 6.70
Debt / equity
0.46▼
2024 · 0.66
ROE
1.5%▼
2024 · 58.4%
ROA
1.1%▼
2024 · 35.3%
Interest coverage
1.25▼
2024 · 33.45
Debt
€169k▼
2024 · €239k
Debt ≤ 1 year
€42k▼
2024 · €89k
Debt > 1 year
€127k▼
2024 · €136k
Income taxes
€3k▼
2024 · €108k
Staff costs
€19k▼
2024 · €55k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€603k€534k▼
Fixed assets21/28€9k€21k▲
Tangible fixed assets22/27€9k€21k▲
Land and buildings22-€15k
Plant, machinery and equipment23€1k€638▼
Furniture and vehicles24€7k€5k▼
Current assets29/58€595k€513k▼
Amounts receivable after more than one year29€30k€19k▼
Other amounts receivable291€30k€19k▼
Amounts receivable within one year40/41€71k€91k▲
Trade receivables40€19k€7k▼
Other amounts receivable41€52k€84k▲
Current investments50/53€250k€170k▼
Cash at bank and in hand54/58€242k€230k▼
Deferred charges and accrued income490/1€1k€3k▲
Equity and liabilities
Total equity and liabilities10/49€603k€534k▼
Equity10/15€364k€365k▲
Contributions10/11€19k€19k=
Reserves13€335k€330k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€333k€328k▼
Profit (loss) carried forward14€11k€17k▲
Amounts payable17/49€239k€169k▼
Amounts payable after more than one year17€136k€127k▼
Financial debts170/4€136k€127k▼
Amounts payable within one year42/48€89k€42k▼
Current portion of amounts payable after more than one year42€32k€9k▼
Trade debts44€4k€2k▼
Suppliers440/4€4k€2k▼
Taxes, remuneration and social security45€52k€27k▼
Taxes450/3€45k€23k▼
Remuneration and social security454/9€7k€3k▼
Other amounts payable47/48-€5k
Accrued charges and deferred income492/3€14k-
Income statement
Code20242025
Remuneration, social security and pensions62€55k€19k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€87k€3k▼
Other operating charges640/8€5k€2k▼
Non-recurring operating charges66A€4k-
Gross operating margin9900€211k€28k▼
Operating profit (loss)9901€59k€4k▼
Financial income75/76B€267k€10k▼
Recurring financial income75€267k€10k▼
Financial charges65/66B€4k€6k▲
Recurring financial charges65€4k€6k▲
Profit (loss) for the period before taxes9903€321k€9k▼
Income taxes67/77€108k€3k▼
Profit (loss) for the period9904€213k€6k▼
Profit (loss) for the period to be appropriated9905€213k€6k▼
Appropriation of the result
Profit (loss) to be appropriated9906€224k€17k▼
Profit (loss) brought forward from the previous period14P€11k€11k=
Transfer from equity791/2€25k€5k▼
Transfer to equity691/2€213k-
To other reserves6921€213k-
Profit to be distributed694/7€25k€5k▼
Return on contributions (dividend)694€25k€5k▼
Social balance
Average headcount (FTE)9087-0.8
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-02
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 27 days late
2025
30-06
Financial
Weakest financial yearnet €6k ▼97.4%
Net result drops to €6k, the lowest in the series.
28-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
30-06
Financial
Highest result since 2018net €213k ▲189%
Net result €213k, the highest in the series.
30-06
Financial
Equity above €200kEq €364k ▲106%
6 profitable years in a row build equity to €364k.
2023
31-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
30-09
Financial
Equity above €150kEq €177k ▲49.9%
5 profitable years in a row build equity to €177k.
23-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
30-09
Financial
Equity above €100kEq €118k ▲77.8%
4 profitable years in a row build equity to €118k.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
26-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 26 days late
2019
25-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
11-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 11 days late
2017
02-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 2 days late
2016
29-04
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Ukkel · 2 establishment units since 2002
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
De Frélaan 38E1180 UkkelGround area
167 m²
Building footprint
88 m²
Volume, LiDAR
782 m³
Parcel 21618B0383/00E000, Brussels · tallest building 12.0 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
MUSTANGO FALLS SPRL
since 20022.099.100.190
Mustango Falls Srl
since 20232.356.109.412
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21618B0383/00E000 | Brussels | 167 m² | 1 · 88 m² | 12.0 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
69940004SRLVAZ3AYW34
Similar companies · same sector, comparable size
V.H.M. Conseil
BE 0428.047.835
Seneffe · Eq €365k
HAPPINESS BRUSSELS
BE 0876.054.114
Vilvoorde · Eq €364k
IRoAD
BE 0886.115.883
Ukkel · Eq €364k
ATELIER FEVRIER
BE 0431.039.888
Vorst · Eq €366k
E-MPULS
BE 0824.371.623
Hasselt · Eq €364k
Of 9,862 companies in sector 73110 we hold annual accounts for 3,755. 2,407 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded10-06-2002
Fiscal year end30-06
Activities, NACEBEL
73110Advertising agencies
74401
70200Business and other management consultancy
70220Business consulting
74142
74872
82300Organisation of conventions and trade shows
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.